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Milei’s Message to the World

By Marcos Falcone | Apr 9 2024
The first few months of Javier Milei’s administration have already had major consequences in Argentina as the country has started to move away from years of leftist, failed economic policies. This is of course relevant to Argentines, who were the ones who actually suffered because of their country’s dismal economic situation. But the interest that ...

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The Dangers of Milei’s Bi-Monetarism

By Nicolas Cachanosky | Apr 3 2024

The topic of dollarization sparked controversy during Argentina’s presidential campaign. Javier Milei, the current president, pledged to dollarize, grabbing international media attention. He even announced that Emilio Ocampo, my co-author on the dollarization proposal for Argentina, would lead the central bank, hinting at a possible dollarization and closure of the institution. However, as the elections .. MORE

Featured Comment

I think it can generally be assumed that the "externality" being addressed is "we aren't getting enough votes". Many politicians do not buy into this whole "markets are good" idea of which you speak, at..

diz, April 12

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Books: Reviews and Suggested Readings

Public Goods and Public Bads

By Art Carden | Apr 13, 2024 | 0

Public Goods differ from private goods in that they are non-rivalrous in consumption and nonexcludable. If I watch a fireworks show, it doesn’t reduce the amount of “fireworks show” my neighbor can enjoy. If I’m going to put on a fireworks show, I can’t prevent non-payers from watching my bombs bursting in air.  Since public .. MORE

Economics of Crime

The Anti-Chinese Roots of American Public Policy

By Scott Sumner | Apr 12, 2024 | 9

Today, residential zoning, drug prohibition, and restrictions on legal immigration are three of America’s most consequential public policies. As we will see, all three began in California, and all three were explicitly motivated by extreme anti-Chinese bigotry.  All three policies were intended to exclude “undesirables”. To be clear, I am not suggesting that modern proponents .. MORE

Family Economics

Pregnancy Discrimination Act Reduces Women’s Economic Freedom

By David Henderson | Apr 12, 2024 | 8

I attended the Association for Private Enterprise Education annual conference in Las Vegas earlier this week. One of the sessions I attended was titled “Improving Women’s Welfare: Economic Freedom, Gender Ideologies, and Entrepreneurship.” One of the presenters showed a slide about the federal government’s 1978 Pregnancy Discrimination Act (PDA) and said that this had expanded .. MORE

Books: Reviews and Suggested Readings

Social Control at the School for Good Mothers

By Jayme Lemke | Apr 11, 2024 | 2

Jessamine Chan’s 2022 novel The School for Good Mothers (New York: Simon & Schuster) constructs a bureaucratic dystopia in which unfit parents—mostly mothers, but not all—are ordered by family courts into a re-education camp run by Child Protective Services. Perhaps the most chilling part of the narrative is how easy it is to imagine a .. MORE

Business Economics

Further Decline in the Value of the Costco Hot Dog

By David Henderson | Apr 11, 2024 | 14

  In July 2013, I wrote a post on EconLog titled “The Economics of Self-Imposed Price Ceilings.” The case in point was the Costco hot dog. I pointed out that by keeping the price of a hot dog and a soda with free refills at $1.50, Costco over time, to reduce losses, reduced the quality .. MORE

Adam Smith

Wisdom on Worth and Work

By Kevin Lavery | Apr 10, 2024 | 3

What do we desire from our lives and our work? In October of 2023, I participated in a debate at my college, Western Carolina University, regarding whether gender affirming care for minors should be banned. When it was my turn, I mostly stuck to the facts. I cited medical organizations, doctors, and meta-analyses. Though we were .. MORE

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Book Club

Economics of Crime

The Road to Serfdom 65

The housing sector in Irvine, California is booming, partly due to an inflow of investment from China. When I ask Chinese acquaintances where the money comes from, they suggest that it is transferred to the US through mysterious channels. Commenter Ahmed Fares directed me to a Daily Mail story that sheds light on one such .. MORE

Books: Reviews and Suggested Readings

Social Control at the School for Good Mothers 2

Jessamine Chan’s 2022 novel The School for Good Mothers (New York: Simon & Schuster) constructs a bureaucratic dystopia in which unfit parents—mostly mothers, but not all—are ordered by family courts into a re-education camp run by Child Protective Services. Perhaps the most chilling part of the narrative is how easy it is to imagine a .. MORE

Energy, Environment, Resources

Conservation Through Capitalism 4

I recently stumbled across a news story that highlights something about capitalism and the profit motive that is underappreciated by the very people who most loudly clamor for it – the conservation of resources. Capitalism doesn’t merely incentivize maximizing output – it also incentivizes minimizing the use of inputs as well. If you want to .. MORE

Book Reviews and Suggested Readings

Individualism versus Racism

By Arnold Kling

Similarly, to advocate colorblindness is not to pretend you don’t notice race. To advocate colorblindness is to endorse an ethical principle: The colorblind principle: we should treat people without regard to race, both in our public policy and in our private lives. Coleman Hughes, The End of Race Politics: Arguments for a Colorblind America1 (p. .. MORE

What Should Economists Do? An Appreciation

By Donald J. Boudreaux

I‘m thankful to my undergraduate mentor, Bill Field, for things too many to count. Among these is his introducing me during my junior year to public-choice scholarship. “Dr. Field” (as I then called him) did so by suggesting that I read James Buchanan’s and Richard Wagner’s 1978 monograph, published by the Institute of Economic Affairs .. MORE

Pirate Enlightenment: Some Treasures, Some Toils

By Carly Jackson

Book Review of Pirate Enlightenment, or the Real Libertalia by David Graeber.1 In the Preface of Pirate Enlightenment, or the Real Libertalia by David Graeber, he states that he hopes to provide a fun read that illustrates that the pirate society of Madagascar (1690-1750) lives up to the story of a pirate utopia called Libertalia .. MORE

We at 100: The Case for Liberty

By Caroline Breashears

Review of We, by Yevgeny Zamyatin. Modern Library Classics. July 11, 2006. First written 1921.1 Decades before Gene Roddenberry launched the U.S.S. Enterprise, Yevgeny Zamyatin imagined the maiden voyage of INTEGRAL, a spaceship designed to carry the odes and treatises written in honor of OneState by its people (“Numbers”). The goal, as the state newspaper .. MORE